Durban Funworld Online Auction Ends with Extremely Low Bids
By Staff Writer 04-May-2023 10:43 UTC+02:00
It is unclear if the sale of Durban Funworld will go ahead as planned after the online auction for the amusement park ended with extremely low bids on Wednesday, 03 May, 2023. According to auctioneers Dales Bros, the eThekwini Municipality’s valuation of Durban Funworld was R56 000 000 in 2021, and that of the owner was R28 000 000 this year. However, the highest bid for the entire amusement park was only R6m, not even a quarter of its estimated value.
The iconic cableway, which is valued at R12m, received an offer of R1.2m. The other items that are worth more than R1m received offers ranging from R150 000 to R400 000 each, with all bids on individual items adding up to just R3.57m. It is therefore unlikely for the owner to sell the items one by one.
If the sale does go ahead, it will be a huge loss for owner Nic Steyn, who was forced to close the decades-old amusement park and put it on auction after failing to secure a long-term lease agreement with eThekwini Municipality. The municipality claims that it has big plans for the site that Funworld is on. This has infuriated thousands of locals, who fear that public money may be looted in the name of redeveloping the site.
The following list shows all bids that were made on each of the items that were on offer in the Durban Funworld auction:
| ITEM | VALUATION | HIGHEST BID |
|---|---|---|
| DURBAN FUNWORLD COMPLETE IN SITU DURBAN |
R56m (by eThekwini Municipality) |
R6m |
| CABLEWAY | R12m | R1.2m |
| DODGEMS & DODGEM TRACK | R2m | R250 000 |
| TRABANT/HULLEY GULLEY | R1.8m | R400 000 |
| ORBITOR | R1.8m | R400 000 |
| BREAK DANCE | R1.4m | R160 000 |
| TILT-A-WHIRL | R1.4m | R300 000 |
| EXPLORER | R1.8m | R150 000 |
| TORNADO | R800 000 | R180 000 |
| SWING BOAT | R1.8m | R150 000 |
| WESTERN TRAIN | R750 000 | R80 000 |
| FANTASY RIDE | R750 000 | R80 000 |
| DRAGON RIDE | R300 000 | R140 000 |
| ELEPHANT RIDE | R350 000 | R40 000 |
| CAROUSEL | R80 000 | R20 000 |
| MINI CARS | R80 000 | R20 000 |
